SBIG CEO Andrew Glashow Receives 3.75M Preferred Shares

What Happened
Andrew (Andrew Jay) Glashow, CEO of SBIG Holdings, was granted 3,750,000 shares of Series A Preferred Stock on 2026-09-16. The grant shows a $0.00 acquisition price (an award/compensation, not an open-market purchase or sale). The filing treats these as derivative securities that can convert into common shares under specified conditions.

Key Details

• Transaction date: 2026-09-16; Form 4 filed: 2026-09-18 (filed two days after the transaction).
• Transaction type/code: A — Grant/Award (derivative). Price reported: $0.00.
• Number of shares granted: 3,750,000 Series A Preferred shares.
• Shares owned after transaction: Not specified in the filing.
• Footnote: Each Series A Preferred share converts automatically into one share of Common Stock (1:1) either (i) upon sale/transfer by the holder, or (ii) if the holder ceases to serve as a director or employee. There is no conversion price.
• Filing timeliness: Reported two days after the transaction (appears timely under standard Form 4 timing).

Context
This was an award of preferred (derivative) shares — not a cash purchase or sale. Because the preferred shares convert 1:1 to common only on specific triggers (sale/transfer or cessation of service), they do not immediately increase the common share count but could be dilutive if and when converted. Awards like this are typically compensation-related; they are factual disclosures and do not, by themselves, indicate the insider’s market view.